Applying for a DSCR (Debt Service Coverage Ratio) loan is simple and streamlined compared to traditional mortgages.
Because lenders focus on the property’s income, not your personal income, the documentation requirements are minimal — especially for experienced investors.
📋 Basic Documents Needed for a DSCR Loan
Here’s what most lenders will request during your DSCR loan application:
Document | Purpose |
Loan Application (1003 form) | Captures borrower and property details |
Purchase Contract or Refinance Statement | Confirms the transaction type and price/value |
Lease Agreement or Rent Roll | Shows current or projected rental income |
Appraisal Report with 1007 Rent Schedule | Confirms market value and market rent |
Bank Statements (2 months) | Verifies funds for down payment and reserves |
Photo ID / Entity Documents | Driver’s license, LLC or corporation setup documents |
Insurance Quote or Binder | Ensures the property will be covered upon closing |
Title & Escrow Details | Confirms ownership and closing coordination |
Most DSCR loans close with far fewer documents than traditional mortgages — no W-2s, no tax returns, and no pay stubs required.
🧾 Additional Documents (Case-by-Case)
Depending on your loan type or property setup, lenders may also ask for:
AirDNA or short-term rental income report for Airbnb properties
Operating agreement for LLC-owned investments
Borrower Experience Resume (helpful for fix & flip or multi-property investors)
Proof of insurance coverage for multi-unit or mixed-use properties
These documents simply help verify that your property and business are structured properly.
💡 Documents for Refinances
If you’re refinancing a property, you’ll typically need:
Current mortgage statement
Existing lease or rental income documentation
Appraisal or broker price opinion (BPO)
Payoff statement from your current lender
Having all refinance documents ready before ordering the appraisal can speed up closing by several days.
🧠 Pro Tips for a Smooth Application
Gather all documents before applying — especially proof of funds and lease agreements.
Save digital copies (PDF format) for easy upload or email submission.
Label your files clearly (e.g., “123MainSt_Lease.pdf”).
Ensure all entity documents are signed and up-to-date.
A complete, organized application can cut days off your approval time and help your loan move smoothly from underwriting to funding.